Insurance brokers working in the construction sector are getting an early view of the benefits of HSB UK and Ireland’s recent acquisition of structural warranty provider Premier Guarantee.
HSB Regional Development Manager Ben Francis has teamed up with Premier Guarantee’s Broker Relationship Manager Tim Woodgate to explain to a number of real estate brokers what the partnership can deliver to a range of construction clients.
Dominic Lion, Head of Development and Sustainability at insurance brokers Arthur J Gallagher, said the joint presentation had already helped generate new business opportunities for his firm.
While HSB predominantly offers its range of engineering insurance and inspection services through brokers, Premier Guarantee typically engages directly with the builder or developer. For more complex construction projects, however, brokers play a key role for both businesses.
Tim said: “We started working together after Ben was approached by one of his broker clients asking about latent defects insurance and he pointed them in my direction.
“Living in the same area, we met up to review the products and services we offer and quickly understood there are areas of mutual benefit where we can grow as a group.”
Ben added: “I had a number of meetings lined up to present our mechanical and electrical inherent defects cover and Tim joined me to discuss structural latent defects insurance.
“It was immediately obvious there is a lot of synergy there and there is much more we can do.”
Arthur J Gallagher’s Dominic Lion said the training was “extremely well timed” with their clients facing pressures around inherent defects, legislative changes and energy efficiency.
He added: “The content was brilliantly delivered and has already generated a couple of live opportunities, as well as provoking many more questions and leading to the creation of our forthcoming session in September aimed at our top clients.”
Premier Guarantee is adapting its business to work more with the broker market alongside direct customer engagement and HSB’s experience in this area will prove invaluable, especially in making new contacts and raising awareness.
Tim added: “We hope to be able to increase both entities’ visibility, so that in the future brokers will not be able to think of one without thinking of the other. We both have great brands and we are in a position we can really build upon.”
Every care was taken to ensure the information in this article was correct at the time of publication (August 2022).